The Aryavarth Express
Agency (New Delhi): Chamala Kiran Kumar Reddy, newly elected Congress MP from Bhongir Lok Sabha constituency, criticized exit poll predictions for misleading investors and causing massive losses in the share market. After his victory, Reddy expressed gratitude to his supporters and highlighted the financial impact of inaccurate exit polls.
Speaking to ANI on June 5, Reddy said, “People have blessed me with the maximum majority. The public has continued the same rhythm in the assembly polls. At the same time, so many media channels have been exposed due to their false exit poll predictions.”
He added, “The media speculated wrong numbers on the eve of counting day, which has made the common man lose 20 lakh crore rupees in the share market. This is called the Satta Market Bazar. The total exit polls are false, influenced by the Gujarat model and Gujarat politicians.”
Reddy accused the Gujarat Satta Market of influencing these exit polls, which led to significant financial losses. He stated, “Even the renowned exit polls have failed this time because they were influenced.”
In the Bhongir constituency, Reddy faced key contenders such as Kyama Mallesh from Bharat Rashtra Samithi (BRS) and Boora Narsaiah Goud from Bharatiya Janata Party (BJP). Bhongir has a rich electoral history, playing a significant role in Telangana’s political landscape.
The Indian stock market experienced a steep selloff on June 4, wiping out approximately Rs 20 lakh crore within the first few minutes of trading. Market experts noted that the stock market had priced in a significant majority for the NDA based on exit poll predictions. However, the unexpected tightness in early election results spooked investors, leading to a bloodbath in Indian stocks on the day the Lok Sabha results were announced. The incumbent BJP performed below par, falling short of the exit poll predictions and the majority mark.